Hydro‚ agriculture development crucial to transform economy: FinMin

KATHMANDU:

Finance Minister Ram Sharan Mahat today said that the government’s effort to develop the hydropower and agriculture sectors would bring substantial changes in the country’s economy by accelerating economic growth, read the statement issued by the Finance Ministry Secretariat.

“Development of hydropower and commercialisation of agriculture would generate more employment opportunities within the country, thereby gradually reducing the dependency on foreign employment.”

Inaugurating a Yoga Centre in his election constituency in Nuwakot district, Mahat said that the country would get rid of load shedding within three years, as the government has been developing mega hydropower projects targeting mid-term and long-term demand of energy, according to the statement.

“Independent power producers as well as foreign investors are being attracted to invest in the energy sector following the recently signed Power Trade Agreement with our southern neighbour India. The agreement has ensured the market for energy.”

Quoting Mahat, the statement further read that the government has already started the construction of Budhi Gandaki hydropower project, which is estimated to cost Rs 150 billion and the government is fully committed to overcoming the infrastructure bottlenecks to attain high economic growth.

Mahat also stressed on commercialisation of agriculture, read the statement.

“The government has already announced that commercial banks will be providing agro loans at subsidised interest rates. Now, farmers would be able get agro loans at up to six per cent,” the statement quoted Mahat as saying, “The government is also mulling over establishing agro-markets in different locations of the country to link producers (farmers) with the market.”

He also suggested the farmers to reap benefits of nominal customs duty facility while importing agriculture equipment and make farming less labour intensive by using modern agricultural equipment, according to the statement.

Source: THT